This one isn't really that tough of a call. The distance and size of the account would lead me to pass on the idea. I was in a similar situation a few years ago. The only difference is it was spread out over 40 accounts and it required an investment of $25k. I went from 10 or so accounts part time to 50 accounts overnight. I quit my $50k/yr job (family w/ 2 kids), wrote a $25k check, and became a full time lawncare business owner. Every person I knew said I was crazy. I worked my ass off the first year!!! 7 days a week for 5 months. No joke. I remember telling my wife in August that I honestly didnt think I could make it to winter. I almost balled like a baby I was so exhausted.
2 years later I hired my first employee. I spent another $35k to acquire another business at which everyone said I spent too much and their was no value in it. Again, contrary to their opinion I made it work. I built the business into a full service company and now I am focusing 100% on fertilizer applications. I am in the process of selling all of my maintenance business to a local competitor for $140k including about $40k in equipment. I guarantee people are telling him he's crazy for buying it and I have people telling me I'm crazy for selling. The point is, nobody knows your work ethic or drive and nobody knows how you plan to grow. I would say that this particular opportunity seems like a lot of resources focused in one location and I would make damn sure you can grow immediately in other areas if you decide to take the plunge. Be ready for naysayers and those waiting for you to fail. There will be a hundred people eager to watch you fail and nobody to lift you up once you succeed.
Good luck and I hope it works out for you if you take the opportunity.

Hope it works out for OJAY either way. OJAY you are considering taking on debt, but I didn't see any comments whether the "customer" that is landing these accounts for you expecting a percentage of the account . He may be a nice guy, but he also may have his hand out.

There are a lot of contingencies here. First of all, you never mentioned if you were married, living on your own or still living with your parents. While these things should not be the sole deciding factor they should come into play when considering this opportunity. For example if you are married with kids this will be a more complex issue than if you are single and still living with your parents. Having said that here some other things to consider.
- this contract would be a major game changer for you but you need to be prepared and do your homework. If you have an opportunity to pick up 60-70k of work and you already have probably 20 k in residential
Work you are looking at a 100k business overnight. You will be hard pressed to keep your other job at this point. You will need to get things set up quickly, systems, purchases, employees, job descriptions, and goals for your new venture. This can all be done but it is a lot of work and it won't be easy, I promise that!
- if you have anyone in your market willing to mentor you or help you out, quickly, then ask for help. Getting help is the quickest way to be successful with something like this. You need to move fast, do tons of research and learn as much as possible about the commercial/HOA end of this business.